Nico Life Insurance Company Limited has expressed interest to invest in Kanyika niobium mine project in Mzimba after being approached by Globe Metals and Mining Company.
Globe Metals is looking for local investors in the mine. The search comes after government refused to have 90 percent shares in it.
Nico Life Insurance Company Limited chief executive officer (CEO) Osman Karim confirmed in an interview that the company was in talks with Globe Metals on the possibilities of investing in the mine.
“We are looking at opportunities everywhere; opportunities that will keep and grow your money. If it means investing in mining or manufacturing, there is no problem provided it is safe,” said Karim.
Principal Secretary in the Ministry of Natural Resources, Energy and Mining Ben Botolo, in an earlier interview, doubted whether the move would bear fruits.
Globe Metals senior geologist Chris Ngwena said the company is in the process of sourcing funds for the project. n